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Technology Stocks : COMS/USRX
COMS 0.001300.0%Nov 4 10:50 AM EST
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To: Wayne Lian who wrote (1097)3/27/1997 4:44:00 PM
From: David Lawrence   of 1384
 
>>Taking a loss on COMS and immediately buying USRX, is that a wash sale?

No way is that a wash sale, in my opinion. They are separately traded equities, are not trading at a fixed ratio, and the merger agreement can be cancelled and is subject to regulatory approval. I would be very comfortable selling COMS for purposes of taking a tax loss and buying USRX because it looks like a more attractive investment. Actually, the current discount spread on USRX to COMS should easily cover your commissions.

You might have a problem with a wash sale rule only if you make the trades within 31 days of the effective date of the merger.
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